The National Arbitration Forum's Code of Procedure provides rules that ensure that all legal remedies are available to parties, making any relief available in a judicial forum available in a National Arbitration Forum arbitration.

Among other things, the Statement of Ethical Principles also restates the Forum's position that arbitration organizations should be independent from parties, that arbitration costs should be reasonable, and that all substantive legal rights and remedies should be available to parties, as they are under the Forum's Code of Procedure.

Featured updates to the 2005 Code of Procedure include a provision to grant arbitrators the ability to value large claims early in the arbitration process and a provision for arbitrators to provide injunctive relief and restraining orders in business-to-business cases.

Section 580b of the California Civil Code of Procedure prohibits, among other matters, a deficiency judgment after the foreclosure sale of real property that secures seller financing provided for the purchase of such real property.

Werblow noted that while an Office of Hearing Officers has already been established and staffed, the NASD is awaiting SEC approval of its proposed changes to the Code of Procedure before its professional hearing officers can preside over NASD disciplinary proceedings.

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